Regardless of your brand disposition, it’s hard to think of any muscle car that’s more iconic than the Ford Mustang. During the 1960s, there were a plethora of U.S. automotive companies all competing to become the undisputed king of the 2-door V8 coupe. While there are plenty of beloved American classic cars, Ford’s collaboration with Carroll Shelby ensured the Mustang’s legacy remains uncontested.

The initial collaboration between Ford and Carroll Shelby was a very short but fruitful venture. While the partnership led to multiple Le Mans 24H victories with the GT40, it was the aftermath of that first win in 1966 that led to arguably Ford’s most iconic ever vehicle – the 1967 Shelby GT500. Nate Meyers of Nate’s Classic Cars has extensive experience buying and restoring classic Fords and is documenting this amazing 4-speed Shelby GT500 barn find that’s set for a complete restoration.

RELATED:10 Things We Want From A New Ford Shelby GT500

Fewer Than 2050 Shelby GT500s Were Built In 1967

1967 Shelby GT500 Barn Find Fast Facts

• This pink 1967 Shelby GT500 was found in a barn in Alabama
• The car is completely original aside from a few mods
• The car was originally white before being painted either red or pink
• The GT500 was Shelby’s more civilized attempt after the hardcore GT350
• Average values for 1967 GT500’s are now over $200,000

This particular 1967 Shelby GT500 was found abandoned in a barn somewhere in Alabama, according to Nate. While there’s plenty of dust and patina on the surface of the car, Nate says the fiberglass body panels, sheet metal, glass, interior, and even the GE headlights are all original and in excellent condition. This GT500, number #1223 of the 2048 produced in 1967, was originally painted white from the factory. However, the car has been repainted, presumably red, at some point in its life and is now a faded pink color.

The car also has the more coveted 4-speed manual transmission and the inboard headlights – meaning the high beam lights are mounted in the center of the grille. Nate points out the car also has a few “day two mods” (modifications done close to the vehicle’s original purchase date), such as SS Crager wheels and 1969-1970 Ford sport mirrors.

Shelby Gave The First-Generation Ford Mustang The Performance Boost It Sorely Needed

Introduced in 1964, the Ford Mustang quickly became a cultural symbol in the U.S. and is responsible for kick-starting the pony car craze of the 1960s. While stylistically, the Mustang was a hit, it was somewhat underwhelming when it came to performance. The most powerful motor in 1964 was Ford’s 289 cu. in. HiPo V8, producing only 271 HP and 312 lb-ft of torque. By comparison, Dodge, Plymouth, and Pontiac all offered V8 muscle cars with 350+ HP in 1964.

Ford and Shelby sought to rectify this somewhat with the GT350 in 1965. The Shelby GT350 was a lightweight, stripped-out Mustang with more power, and while the GT350 was quicker and more powerful, producing 306 HP, it was also a severely uncompromising driving experience. Realizing the lack of mass-market appeal for the hardcore GT350, Ford decided the GT500 had to have a greater degree of comfort and drivability

The Shelby GT500 Learned From the GT350’s Lack Of Civility

1967 Ford Mustang Shelby GT500 Specifications

(specifications provided by Car and Driver/classic.com)

Based on the larger, re-designed 1967 Mustang fastback, the Shelby GT500 came with Ford’s 428 cu-in big-block V8 with a claimed output of 355 HP and 420 lb-ft of torque – colloquially known as the Police Interceptor or Cobra Le Mans motor.

As such, it’s a common misconception that the GT500 used a variation of the NASCAR-developed 427 cu. in. V8 found in the GT40 race car. However, the 427 was far too uncivilized and unreliable for a road car, and so, other than the one-off ‘super snake’, which did actually have a GT40 MKII motor, all 1967 GT500s came with the 428.

The GT500 also had a slew of creature comforts compared to the preceding GT350, such as air-conditioning, power steering, and servo-assisted brakes, along with the option of Ford’s 3-speed automatic transmission.

1967 Shelby GT500s Are Worth Over $226,000 In 2023

Pricing

(data from classic.com and J.D. Power)

While Nate isn’t giving too much away on what’s next for this Shelby GT500, he does have a fantastic track record of restoring classic Ford Mustangs. Currently, the engine is out of the car, so Nate might paint the car the original factory white and service the motor before slotting it back in.

Values of the 1967 Shelby GT500s average around $226,315, according to classic.com. However, with so much of this car being completely original, Nate might get quite a bit higher than that if or when he decides to sell.

Sources: YouTube @ Nate’s Classic Cars, classic.com, J.D. Power, Car and Driver